MedVector was born out of a suggestion for increasing hospital revenue streams. Co-founder and CEO Scott Stout, working in his former role as a professional investor and options strategist, asked a private equity client that acquired and turned around hospitals why they weren’t pursuing clinical trials. His question was met with a slew of reasons – from not having the pharma relationships to not knowing where to start. “Why don’t you refer patients to other hospitals that do facilitate clinical trials for a referral fee?” he asked. The answer was simple –clinicians don’t want to lose their patients by sending them somewhere else.
“What if we found a turnkey clinical trial company that placed their people in your hospitals and medical offices with some sort of profit-sharing? And then, when the study is over, they pack-up and leave?” asked Scott. The founder of the private equity company looked him squarely in the eye and said, “Go find me THAT.”
His team’s rigorous due diligence revealed “THAT” didn’t exist. And so, MedVector was born as a connectivity platform to break through the bottlenecks that prevent CROs, sponsors and recruiters from accessing enough qualified participants from diverse backgrounds and locations to fill and complete clinical trials in a timely manner. MedVector’s team of healthcare, high tech, and financial entrepreneurs is building relationships, breaking barriers, and working with clinical trial industry leaders to improve the clinical trials enrollment process without reinventing it.